gonzalez. 's also on that-- >> what does he do now? >> well, he won 21 games he's on that suppliers list, tony bosh. he says, no, you have the wrong gonzalez. it's my father max gonzalez. >> speedy gonzalez. >> who was a patient for bosh for the purpose of losing weight. then next to geo's name, pitching statistics with the testosterone drug pink cream. imus: 18 after the hour here on the "imus in the morning" program. bernie with a briefing next and on tv "varney & company," they played this record on nash 94.7, hunter hayes. ♪

♪ ♪ ♪ ♪ imus in the morning ♪

>> the left wants your money. more money, yeah. here comes a carbon tax. good morning, everyone. two senators will today propose a tax on carbon emissions. everyone will eventually pay. but wait, there is more. in this energy mess, the raid on your money keeps rolling along, doesn't it? the president will make oil companies pay for wind and solar and they'll pass that along. two, you'll pay for another green energy fiasco, taxpayer money wasted on a green battery maker, no batteries. you are paying much more at the pump. regular has never cost so much in the the month of february. one last one. these people now dictate america's energy policy. an actress and a kennedy, and a mere handful of others get worldwide public city. they don't like the pipeline. hold on a second, we're not done. warren buffett buys heinz 28

billion dollars, windfall for john kerry? "varney & company" is about to begin. ♪ [ cows moo ] [ sizzling ] mo rain... [ thunder rumbles ] ♪ [ male announcer ] when the world moves... futures move first. learn futures from experienced pros with dedicated chats and daily live webinars. and trade with papermoney to test-drive the market. ♪ all on thinkorswim. from td ameritrade.

>> you know, this is the big deal of the year so far. wait for it, warren buffett's berkshire hathaway and 3g capital buying heinz, 28 billion dollars. heinz shareholders will get 72.50 for each common stock they own, that's a 20% gain over yesterday's closing price. 28 billion total, and the shares in the pre-market close to 72.50. there's a side bar here in the newly installed secretary of state john kerry, his wife is part of the heinz family. all right, it's official now, u.s. airways, american airlines are going to merge, a 11 billion dollar all stock deal creating the world's largest airline and shareholders own 72% of the

company and u.s. air 28%, watch out flyers, every previous merger after that, ticket prices went up. will that be repeated this time around? we'll see and by the way, bob crandall, former american airlines chairman he's on fox business 11 a.m. this morning. and i've got another big name that you know. slower sales, rising costs hurting the e-reader, it will lose on the nook in the year 2013. all right, everybody, look at this picture. a near handful of hollywood and political elitists protest the keystone pipeline, look, daryl hannah, a kennedy, a couple of dozen all they got. and they were arrested, a tiny number of people, but still making big headlines in the mainstream media. they command attention, why is that? you're going to meet one of those people, he's out of jail. 10 a.m. eastern and we have for you the opening bell next.

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>> with one minute to the opening bell, i'll get straight at it today. here is carol roth former investment banker and now radio host. carol shall the dow couldn't get to 14,000 and hold it. down a bit probably today. is this rally over fast?

>> i don't think it's over, maybe taking a breather, but in the short-term, very short-term not over, longer term remains to be seen. stuart: okay, but it's not over, you say? i want to impress that for you. you don't think this is over. we could make a run well above 14,000 do you think? >> not well above. i think we can test the former highs and then we'll probably get a pullback. stuart: i ask because a lot of people are getting nervous with the economy as the back drop not looking too sharp right now. but, anyway, stay right there. because we're coming back to you shortly and i've got the opening bell starting in just a matter of seconds and we're expecting a drop of maybe, 40, 50 points in the opening bell today and that could take us back to around 13,950. roughly in that area. and the opening trend. let's have a look at it. where are we this morning. the opening trend is down. up 14 points in the first few seconds. larry levin with trading advantage joins us from chicago. larry, again, we thought we were

going to hit a record high on the dow and a lot of people pushing for it. if we're not there, we're a couple of points, a hundred points away, what happened? >> well, there's a little bit of a pullback, we've got some people who tried to short the market near the highs and i think that carol is right, said a few seconds ago, this market will find some support and rally and hit the highs and see the sellers come in and may get a significant pullback, but not until we've gotten above those highs and maybe won't do it today. the s&p's opening right now five points below the settlement price of yesterday, but the market will find some support and highs over the next week or so and then i think we'll see the pullback. >> you're make ago lot of people feel better there, larry and carol, they're feeling better because a lot of people thought maybe we'd start to sell off pretty fast, but apparently not right now. we're down 50 points on the dow. layer i've got to go, something interesting coming up out of washington in fact, a new entry for the you will not believe this file. the government accountability

office just releasing a report on government waste, peter barnes has seen it and he's in washington, give me a headline number that will shock me, peter. >> these are, welsh the government operations on the high risk list for being vulnerable to waste, fraud abuse and mismanagement and at the top of the list the overall programs that deal with possible climate change problems such as the federal flood insurance program, disaster relief programs and spending on those have exceeded over 100 billion in recent years. taxpayers are also at risk, according to the gao, for 24 billion dollars in new satellite, weather and tracking systems. but have you got a second for one piece of good news, stuart? are you sitting down? >> yeah, go. >> i've got one for you, the computer geeks at the irs have made enough fixes to the agency's 10 billion dollar computer modernization program which went on the list in 1995 to finally get it off. back to you.

>> hold on a second, i want to go back to that 100 billion dollar number. now, that's money which we taxpayers have spent via the government, but it's at risk, is that correct? at high risk? >> at high risk of possible waste, fraud and abuse of mismanagement. for example, the 50 billion dollars that went to hurricane sandy, they're not doing a good enough job accounting for that. for other disaster relief over the last few years, totalled 80 billion dollars they're worried about the government being able to account for that. and the federal flood insurance program you know all about that. >> i do, i know well about that. peter barnes, the the headline number, at risk in one area, climate change. >> see you soon. >> back to that big, and i mean that big deal of the day, this is a headline and a half. warren buffett, he's buying heinz along with 3g capital. 28 billion dollars, nicole, i've got to believe that heinz is,

there you go. >> that's not chump change, you nailed it, stuart. take a look at heinz right now. it's up almost 20% which really is the premium on this deal and heinz at 72.50 for this and of course, warren buffett. one of the things that he actually said, stuart, was that they have great tasting products, right? and obviously, ketchup is great for them. their emerging markets, and good balance, and he was getting in there to get this one. >> he will with, you know, look, heinz is a good corporate citizen, it's got solid management, very well run, it's profitable and a name that absolutely the whole world news that's the typical company that a warren buffett would go after and he's got it for 72.50. nicole, i've got to run, i'm sorry, but i'll get back to you shortly. that's a fact. the dow industrial is down 57 points, 13, 924. listen to this, 401(k)'s hit record levels the.

and pouring money in, some of you have taken it out. and balances on the average, 401(k) are up 12% from last year. that's a 12% gain over last year. all right, carol, let's get back into this buy stocks or sell stocks question. you don't, i take it you don't think that it's time for the people watching this program to start shifting some of their pension money out of stocks? >> i wouldn't say that either, stuart. i think that depends if you're a long-term or a short-term investor. i think in the short-term, if you have benefitted from the increase in the market, over the last month or the last several years, it's a good time to protect the increases, so something like putting a stop loss order in or if you have a financial advisor doing some option strategies to protect your wealth, i don't think that's a bad idea because in the immediate short-term, i don't necessarily see the far selloff, but in the intermediate we're

going to have a pullback. i don't think it's a matter of if, it's a matter of when. so you want to be protecting that. but that being said, i don't think that an overall shift from stocks to bonds makes sense either because there's no yield there. imus: imu imus:. stuart: no, if you're talking 401(k) money, that's long-term money you don't trade in and out. that's long-term stuff. over the long-term and i'm talking years, you're pretty happy to leave it in stocks? i would be, look, i've got a 401(k). stays in a mutual fund in stocks, that's it. >> if you have a long-term horizon, you have to have confidence in the market because if we don't have confidence in the market, then we're really in a bad situation. it's certainly not a time to make a shift to bonds until the yield situation changes there. so, i do not see a better option. and what we've benefitted from, basically, over the last couple of years, there isn't a better alternative, a better place to put your money. >> you're right, yeah. >> and a lot of companies have a

lot of capital on balance sheets to invest. when they put that back to work, then we'll start to see real revenue and profits. >> and if you see more buyouts like warren buffett buying heinz at a nice premium price, he hit the sweet spot right there. you see more of that, and long-term stock investors, 401(k)'s, they're going to do okay, i suspect. last one. >> it's going to be a record year for m and a. between the airline mergers, dell, heinz, they're across the board and can end up doing well with that as well. stuart: we'll bear that in mind. carol roth former-- >> and bull that in mind, don't bear. bull. stuart: that's good. i never thought of that play on words. thank you much indeed. >> thanks, stuart. stuart: barnes & noble says it's going to lose a lot of money on that e-reader, the nook, this year, big bucks being lost. nicole: the nooks, such high hopes for barnes & noble, with

their concept of selling books, old school books, they tried the nook not as successful as they hoped and an outlook for 2013 and weaker than expected an as a result of stocks, down 4%. >> it's very, very hard to compete with the amazons in this world. amazon has the kindle. the nook competes directly with the kindle. that's tough competition. >> my son went to school with a kindle today in fourth grade. stuart: in fourth grade. >> it's not unusual to see the other fourth graders with kindles. stuart: they've taken over the e-readers. i like to sit on a plane and read a book. that's just me. nicole, thank you. i'm calling it the great tax migration, people flocking in droves from the northeast all the way down to florida. high tax, low tax. it's all about taxes. cheryl casone is live in miami beach in the next hour and tell us exactly how many people left high tax new york for no tax florida. that's over the past couple of years and it's a big number, by the way, and that will be new at

ten. we want to hear from you, too, as always. e-mail us now, please, varney@foxbusiness.com. seven early movers, it's thursday morning, here we go. cisco, very interesting, i call it a door stopper stock. it's been revealed that they have 46 billion dollars in cash. 46 billion, but 39 billion dollars of it is overseas, outside america. chief executive john academy berce says, you bring the money back to america, you'd like to bring it back just so he could buy stuff, buy other companies. he's got a problem. if he brings it back here, he pays a 35% tax rate so he's holding off for a tax holiday. 2065 on cisco, it's a door stopper. higher profit and disappointing outlook at pepsi, where is that stock, it's up a buck. whole foods is is in the news, weaker sales for the rest of the year. that's interesting, it's down 8 bucks. and the telephone land line provider century link, cuts its dividend and plans a stock

buyback, it's down huge. $7 off on a $33 stock. and advising widely, it's up $3, a big percentage gain. better than expected profits are sketchers, footware people. up 8%, not bad. disappointing outlook from weight watchers, can't understand why, it's january and nobody goes on a diet in january. $44 a share, it's down $9. clearly, there's some big, big movements today. up and down. check the big board that we are off 33 points, that's all. 1395 right where we thought we were going to be. time is money. 60 seconds of what else we're watching for you, here we go. the running theme on "varney & company," in just over an hour and a half two democratic senators will roll out their plan for a national carbon tax. we told you it was coming. brace yourself. it's nearly here. nearly here being presented to the senate not passed by a long

way. how is this for energy policy. president obama wants energy companies to pay for green energy. 2 billion dollars worth. new fees imposed on private industry, oil companies to pay for government sponsored programs. will that help spur growth? don't forget about those liberal environmentalists, a few dozen of them arrested yesterday at the white house. a very small group of people making very big headlines in the mainstream media. a hollywood actress, a kennedy. they don't even want-- they do not want the keystone pipeline, we're going to meet one of the protesters top of the coming hour. all right, where is the price of oil this morning? we're up $97 a barrel. where is the price of gas? up again, in fact, the spike continues. we are now at $3.62 a gallon. are we headed towards $4. we'll have an answer to that very good question next. (announcer) at scottrade, our clients trade and invest exactly how they want.

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>> and we're going to take 45 seconds now to introduce to you banana joe, that's a dog right there. you can see him. he is the grand champion dog in the united states of america being with its owners and with nicole on the floor of the new york stock exchange. nicole, i've got a money question. you know what's coming. is that dog, has that dog, banana joe, has he earned for his owner over the life of the dog a million dollars? >> oh, no way. he hasn't earned a million dollars. he's not earned a million dollars. tell us how you feel after banana joe won westminster and being there. >> this was a dream come true. i thought it would never happen. a breeder never won anywhere that big in the world, except for him, a super winner. >> and he's got pizzaz and showmanship. >> he owns the ground he stands over. >> i'm going to bring him up close and see him, he's cute. stuart: i want to see him--

he's cute and why nt the dog, the grand champion dog, why is he not worth a million bucks. >> i don't know, that's not what it's about. it's not a million dollars bucks. stuart: yes, it is. >> i'm sure he'll get the endorsements and that stuff. >> he's a great examine and a beautiful dog and that's a fact. thank you, appreciate you putting him on air. nicole: thanks, stuart. stuart: the average of gas is climbing 3.62 up another penny and keeps going up and up and up and it's a spike up over 30 cents a gallon in the last month. well, with more on this, let's bring in patrick dehaan, gasbuddy.com. where is the highest gas in the continental 48 in america? >> i feel a feeling you should know this by now, it's in california, just pick a city. l.a. is getting hit hard right now at 4.21, in fact, prices are so high, i knew you'd probably call me out on gas prices going up if i wore a nice suit so i

kind of dressed down today so i don't look like i'm the one taking advantage. stuart: look, it's no laughing matter. it's no joke, $4 gas, here it comes. 4.20 in los angeles. all right give us the other side of the coin. where is the cheapest? >> well, billings, montana heads it off the best today. 3.03 a gallon and quite the spread from l.a. to chilly billings, probably save money. stuart: a more important point is it, we seem to be establishing a new normal we go up, come down and the down is always at a higher level than the down in the past and keep inching up for the new normal. it seems to me like the new normal is 3.50 and we're now bouncing off 3.50. what do you say? >> i don't know if we're ever going to have a norm for gas prices, they're just all over the place, so sporadic and bipolar, what you say is worrisome, we're establishing a new floor. prices today are already 12 cents higher than last year and

record prices and i think this is the reality starting early. usually wait until april until we see gas prices soar. seeing it earlier and everybody wants to get in on the rally and dow jones is going up and somebody started a rally in commodities buying in and nobody wants to be left behind and think it's a rally starting early. stuart: you're saying it starts to soar usually in april. are you telling me that $4 a gallon now we're at 3.62. you say a national average, $4 is on its way this year, this spring? really? >> i haven't predicted $4 yet. it certainly could be a close call. last year hit 3.89 nationally and certainly possible. look at prices today. 12 times ahead of last year and the big question, is this the reality that should be taking place in april is taking place now? if there's he another rally we'll hit $4 a gallon and certainly a possibility. stuart: 4.23 in los angeles incredible.

thanks so much. >> thanks, stuart. stuart: 9:49 eastern, what's the price of gold? still where it was the last few days, right around 1650. we're actually at 1646. first it was smoking and then it was sugary drinks. now, new york city's mayor michael bloomberg wants to ban styrofoam cups. what's next? i don't know. sandra smith and charles payne are weighing in in just minutes. ♪

>> he lost-- i jumped the gun, i jumped the gun. he loves to ban things, new york's mayor, michael bloomberg. in 2012, large sugary drinks, and cal rorie info. he banned trans fat and now he wants to ban styrofoam, okay? ban it. come on, charles, fast weigh-in. >> this is a nanny state run amok and it's interesting because they ban all of these

products out in california and people reusable bags and the bacteria in them, and people are getting sick. we could spark the next epidemic, my wife threw them away. and she bought into it and it's too risky on your health. stuart: your wife especially. and you want your chinese in plastic instead of sire foam. >> no, inintended consequences is now in plastic and learn that there are chemicals in there that are getting us. you know, let's just leave people alone and let them make decisions on their own. this is going to be no joke. this is going to be the butt of all jokes. charles: it's expensive for a lot of small businesses and when the billionaires can have, you know what, gee, bring it on a cardboard platter instead of stire foam, everyone can't afford to do it, my man. stuart: the nanny state, who would have thought it's new york city. >> brutal. stuart: here it is. in just over an hour we get the

democrat's plan for a carbon tax, we told you it was coming and it's now right on the horizon. but first, we bring you a protester who was arrested alongside actress daryl hannah now he's out of jail and he's on "varney & company" and carbon tax, green energy, we've got it all and it's all coming up. change engineering in dubai, aluminum production in south africa, and the aerospace industry in the u.s.? at t. rowe price, we understand the connections of a complex, global economy. it's just one reason over 75% of our mutual funds beat their 10-year lipper average. t. rowe price. invest with confidence. request a prospectus or summary prospectus with investment information, risks, fees and expenses to read and consider carefully before investing.

we all work remotely so this is a big deal, our first full team gathering! i wanted to call on a few people. ashley, ashley marshall... here. since we're often all on the move, ashley suggested we use fedex office to hold packages for us. great job. [ applause ] thank you. and on a protocol note, i'd like to talk to tim hill about his tendency to use all caps in emails. [ shouting ] oh i'm sorry guys. ah sometimes the caps lock gets stuck on my keyboard. hey doou wanna get a drink later? [ male announcer ] hold ckages at any fedex office location.

hey doou wanna get a drink later? we asked total strangers to watch it for us. thank you so much. i appreciate it. i'll be right back. they didn't take a dime. how much in fees does your bank take to watch your money? if your bank takes more money than a stranger, you need an ally. ally bank. your money needs an ally. stuart: good morning, everyone. a demonstration out of the white house gained worldwide

publicity. they opposed the keystone pipeline. fifty people. that is all. the picture and video appeared everywhere. incredible. the group include actress daryl hannah. she made her name with tom hanks in the movie "splash." she is a movie star. we must listen to her. then there was a candidate with a name like that. astonishing that a tiny group of demonstrators could get a level of media attention. they are starstruck. they do not like oil. stay right there, please, one of those demonstrators joined us in one minute. ♪ stuart: all right. you just heard me rant about the

demonstration against the keystone pipeline yesterday. our next guest was there and arrested with daryl hannah at the white house. mic brewing is with us. it is great to have you on the show. you do not like the pipeline. i put it to you. that oil will be used. the canadians will get it out of the ground and if we do not take it, it is going to china. whatever you do, it is irrelevant. >> that would be compelling if it were true. first, thank you for having me on the show. two pipelines have been proposed to go out to the wet coast. both have been put on hold. two pipelines have been put to go to the east coast. neither of them are moving

forward. it is also true that if we want to have a shot at stabilizing greenhouse gas emissions, we cannot be investing in the dirtiest fuel source on the planet. it does not make any sense. stuart: you think that by stopping in any way, shape or form, you think that will make a significant difference to the temperature of the planet. can you make that case? >> last year we had record droughts. record wildfires. massive super storms. record temperature increases. we have to do something. stuart: is this a position of the sierra club, that superstorm sandy and other storms recently is the direct result of a global warming and carbon emissions? >> that is the position of most

climate scientists. what they are saying is that our storms are becoming more extreme. they are becoming more intense. they are becoming more frequent. it is true. if you look outside, the arctic is melting. rain forests in brazil, i have been there, they are drawing. i spoke with dave rancher from texas last week. she spoke about the wildfires. my parents, the house i grew up in on the jersey shore was damaged. all of this has happened in the last year. we know that our climate is destabilizing. the question is, will we do something about it. stuart: i am not equipped, frankly, to argue with you about whether the climate is disabled or not. we will not agree on this.

look, it will be proposed today, a carbon tax. i believe it is two senators. they want to tax carbon emissions. we are going to, therefore, pay a whole lot more. is the sierra club in favor of a carbon tax? are you in favor of that? >> you should look at this bill, stuart. i think you would be in favor of it if you really considered it. it raises revenue from two sources. one is to put the the on big polluters. the other is dirty oil subsidies. what you should like about it is it relates money back to consumers. stuart: it simulates clean energy development. you mean solar, wind and

hydroelectric. >> yes. it will help millions of families a year. stuart: solar and wind has now produced for us. it just has not produced. thirty years of subsidies and it is not producing. we will need oil forever. you know it. >> stuart, you have to catch up to this. let me give you some information. stuart: no, no. hold on a second. i am going to ask you a question. how much electricity is supplied in america today via wind? >> double what was produced for it years ago. stuart: how much? >> iowa gets 25% from wind. stuart: no, no. i believe it is around to present. nationally, i believe, it is around 2%. >> stuart, i am your guest.

stuart: i want to ask you a question. i have not gotten an answer yet. what is the national percentage, nationally, the percentage? >> i will give you ten states. stuart: no, no, no, no. i tell you what -- [talking over each other] >> we will be using gas for a while. we will be using coal for a while. we know that climate change is happening. we need to stop making big

investments in dirty fuels debate or investments in clean energy. i know you are trying to trap me. stuart: i am really not trying to trap you. we in america, we have access to a massive supply of fossil fuel. it is ours. i am saying that is a very good thing. we should go for that. you are saying it is not a good thing. you say it this stabilizes the climate. >> it is not as polarized as you want to make it. the goal of that is compelling.

it is compelling to environmentalists like me. what i am saying is that clean energy, that is also available here in the united states, that is coming in now cheaper than coal. cheaper than gas. stuart: wait a minute. wait a minute. wait a minute. you are telling me, wind power is cheaper than coal push or market it is not. no, sir, it is not. somewhere in the region of six times more expensive. yes, it is. >> i do know the numbers, stuart. in san diego, a natural gas plant was just rejected. stuart: you have to have an alternative power source. you are not putting that into the cost. >> i will come to that next.

wind is coming in cheaper than coal, as well. in south dakota, it has been mothballed. wind is coming in cheaper than coal. stuart: why are you laughing? charles: i have seen so many photographs of these wind farms were not one turbine is moving. you are talking about ruining our economy and laying off a lot of hard-working americans. the unattended or maybe intended consequences of what you guys are pushing would have a dramatic and negative impact on america's economy. >> give me in example of where that is happening. charles: west virginia.

north dakota is a great place to show you where it is not happening. the examples are too abundant, to be quite frank. >> wind turbines are made in china. >> thank you for the tone of voice there. wind turbines are manufactured in iowa by americans. stuart: i am sorry. i do not mean to interrupt you. i am very pleased to have you as a guest today. i am serious about that. i am flat out of time. please, come and see us again. >> appreciate being on the show. stuart: back on the market. checking the big board.

back to nicole petallides. century link. isn't that, what do they do? they are land lines. nicole: the third largest. they are based in louisiana. the stock is down 20%. they say they want to do more by that. in the meantime, they are slashing dividends. their buybacks may cost more than the savings they will incur . they are supposed to save roughly $115 billion. this is not good news. you saw the two dramatic moves in the stock. stuart: thank you very much, indeed. i have a story for you. people leaning states because of high tax rates. they are going to states with low or no income taxes.

we want to bring you the latest on the tax migration story. for that, we will bring in cheryl casone. she is in florida. cheryl, give me the headline number. exactly how many people from new york, high tax to florida, no tax. cheryl: 50,000 residents. this is new york, connecticut and new jersey. 29,000 residents from 2011, 12,000 from connecticut down to florida. these are real numbers. people are leaving new york. why is new york so bad for business? it is the taxes, as you mentioned. they continue to pile on.

the sixth worst in the nation. think of it this way, if you are living in manhattan, if you are living in new york state, $14 change for every $100 you make every day goes to taxes, stuart. we have all these professionals coming and calling us and e-mailing us right now saying i will come down and talk about this. they are furious. they are frustrated. they will go to another state. florida, it is easier and better to do business. what kind of life do your employees have? look behind me. they have this life. why when it you want this life? i mean, come on. you will hate this, stuart.

stuart: i am on my way. okay. i am on my way. cheryl, you are with us all day long today. it is a great story. the tax migration. cheryl casone, everyone. take a look at your 401(k). record highs, i believe. record amount of money flowing into them, i believe. charles, what is your point here? a lot of people missed the stock market. charles: $15 billion of selling went off in march and february of 2009. the good news is most people still have their 401(k)s at work. they continue to contribute to it. beneath the surface, though, there are some red flags. the average total is just $77,000. if you are in your 20s, that is a lot.

if you are two or three years from retirement, it is not. stuart: most people would be in their 40s and 50s. you are not doing too badly. charles: you are well beyond the curve if you are going to live to be 85 years old. stuart: that is true. charles: the number could be substantially higher. i think it should be higher. people are living in fear and that is a mistake. >> everybody is looking for someplace to put their money. stuart: new jersey. new jersey looking at legalizing online gambling. i say they must want more tax money. i will talk to a state senator of new jersey next. ♪

♪ stuart: you want to talk deals, listen to this. buying heinz $428 billion. after this news out this morning, the shares clearly go straight up to 72.50. carnival cruise lines canceled more than a dozen trips. carnival announced the cancellations as a child was being told to mobile, alabama.

carnival stock is at 36. u.s. airlines in united airways merging. both companies approved the merger. legalized online gambling in the state of new jersey. we are on it. ♪ real this time. real this time. step seven point two one two. rify and lock. command is locked. five seconds. three, two, one. standing by for capture. the most innovative software on the planet... dragon is captured. is connecting today's leading companies to places beyond it. siemens. answers.

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gambling bill last week, but he said he would be willing to sign a bill for online gambling if it helped curb the risks of addiction and corruption. joining us now is new jersey state senator, raymond lesniak. welcome to the program. >> i am glad to be here. i am glad the governor finally came around. stuart: you think it will go through. you will get legalized online gambling in new jersey. >> absolutely. stuart: it may set the path elsewhere. >> you cannot stop the people from using the internet. they are doing it now. it is going offshore. in one year, two or $3 billion of revenue. casinos will close without it. stuart: how do you tax it?

>> it is easy. stuart: go ahead, tell me how. >> casinos collect the taxes. it is a poor card fee of revenue that they make. stuart: the established bricks and mortar casinos, they are running this thing? >> exactly. stuart: do you think it will spread over two other states? >> we want all the states to tie up to us. we want to be the hub. then we will share revenues. we want to be the silicon valley of internet games. stuart: what about the international online companies? [talking over each other] stuart: you shot them out? >> unfortunately, that is up to the federal government.

you cannot stop people from using the internet. stuart: you are establishing a monopoly. in my state, new jersey, only these casino companies can operate online. you are granting a monopoly. >> it is a big industry. thousands of people are employed. it is a monopoly that is well-deserved. stuart: i hate to say this, but i am going to say it, doesn't that open the door to a tad bit of corruption? >> the casino has to go through the same licensing process. we have a long history of credible gambling activities. we will keep it that way. stuart: you are saying it will happen? >> by the fall, we will be off and running. stuart: very interesting. we appreciate you being with us. if you do it in new jersey, it

will probably happen for everyone. >> we want to be the hub. stuart: you said that already. republican senators now have enough votes to block chuck hagel's nomination for defense secretary. we will see what happens. obama solution to fix the economy, more spending and lots of it. my take on that next. ♪ [ male announcer ] at his current pace, bob will retire when he's 153, which would be fine if bob were a vampire. but he's not. ♪ he's an architect with two kids and a mortgage.

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stuart: not much of a loss, 11 points don, 3971. tell me about wholefoods. i know it is down a lot so why? nicole: what a story. the stock is down 8.7%. as you know whole foods has about organic products, they are very expensive when you compare them to the other guys and what they have done is try to bring in the other consumers who don't want organic or the most expensive things, they lower their prices and china bringing in the new consumer, discounts in value have cut into their profit margins.

their outlook is weaker than expected because costs continue to rise so this is not good news, stock is down 9% but over the last 52 weeks has done well. stuart: they want a pretty mobile strivers into their stores as opposed to the elite. nicole: spending in smaller areas too so trying to get more customers. a tough sell in some cases. [talking over each other] stuart: when i walk into a whole food store, very rare occasion, wall-to-wall some obama supporters, the elite of the united states and that is solid is, stop laughing by the camera. time to make some money with charles payne. note elitist here. here was his prediction yesterday. roll it. charles: this is a stock that moves in double digit cliffs, up 2% or down 2% but it will be up 10%.

stuart: he said that yesterday and what happened? take a victory lap because it went straight. charles: it is around 44, up 20%, not 10%, 20%. yesterday was up 10%. that was a bona fides grand slam. stuart: today -- [talking over each other] charles: it is up huge today and up even more, 20%. stuart: listen to charles payne. one more for us. charles: aruba networks report next thursday. they do in net working. bring your own drinks. [talking over each other] charles: these ompanies, if you want to use a blackberry fine, if you want to use the iphone, fine. it has to have a system that makes that possible. this company will do so well, they reported revenues, margins are improving, upgrade from morgan stanley. my subscribers, looking at next

friday to take another victory lap. stuart: aruba networks, by it. your reputation is on the line. charles: pretty good so far. stuart: president obama pushing another increase in the minimum wage. does this mean more handouts for young voters? we will discuss that at 10:35. i am indebted to my friend and colleague neil cavuto for today's edition of my take. i was watching him as he went through all the president's spending plans. he made me laugh out loud. you may want to cry. here we go. $98 billion for universal preschool, $48 billion for a fix it first building program. $2 billion for green energy fund. $8 billion community college career fund. $15 billion for a vacant property development fund. heard enough?

no. as the infomercials say, wait, there is more. 5 to $10 billion for responsible homeowners fund. $4 billion for in new raise to the top education deal. the punch line, all of this is free. it will not add one dime to the deficit. we can have it all without red ink. the president puts those infomercial people to shame. with this president you get hundreds of billions of dollars worth of stock for free. come on, a america. that is the deal you can't refuse. but do you believe it? oh this is lame, investors could lose tens of thousands of dollars on their 401(k) to hidden fees. is that what you're looking for, like a hidden fee in your giant mom bag? maybe i have them... that's right i don't because i rolled my account over to e-trade where... woah. okay... they don't have hidden fees... hey fern.

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stuart: dare i say it? those pagan losers in europe are at it again, the euro zone economy fare even worse than expected in the final months of 2012. the economy shrank, it contracted more than expected. keeping prospects alive for more money printing in europe. president obama proposed raising the minimum wage in his state of the union message. from $7.25 an hour at the federal level to $9 an hour. si libya bigelow, american majority action directed joins us in new york. welcome to new york. this is why young people voted

for president obama. they think they will be given something. a wage raise just like that. i will vote for that. >> absolutely but it is funny how liberals disregard or accused conservatives of disregarding science when they are disregarding science in this case, disregarding economic science because it is improving over and over again that raising the minimum wage will also raise unemployment rates. is especially among young people. it has been proven that raising the minimum wage increases unemployment the among young people disproportionately because businesses can't afford to hire young people at this rate when they are inexperienced. stuart: have you no heart? how can you expect people to support a family on minimum-wage of $7.25? are you utterly heartless? >> on solo explains very well

that people who are making minimum-wage are not generally supporting a family. he has written about this many times that people who are making minimum-wage aren't supporting a family and this is the case. young people are generally the people taking lower wages especially in college. i had to work through college. i was a lifeguard throughout college in high school trying to pay my way and pay my bills and -- charles: there is another aspect in the state of the union and never one is missing the point, it is not about economics, distribution of wealth but redistribution of accountability, when the president talked about raising 24% from 2009, 24% when the media and income has gone down 7.5% since then it is about doing the right thing, not even about economics. what he is saying to people particularly young people as i am the nice guy. these other people don't like you. forget whether the numbers that. isn't that what young people

like? they feel like this guy likes -- stuart: he is on my side. >> the only one reaching out to young people. where are conservatives? charles: it is increasing the minimum wage, this guy like me. stuart: the other side of the story is you raise the minimum wage and you put young people out of work, you won't have the job you want to. [talking over each other] stuart: that is harsh. talk to young people and say we can't raise your wages because it means fewer of you will get a job. that is a harsh and negative message. that won't work. >> you have to make the case, the moral case for free enterprise at that point, make the moral case for free markets and allowing the free markets to work, create more jobs and more jobs young people can take. stuart: i have been reading the literature on this minimum wage hike. there is a leftist operation out of washington and come out and say in the areas which have a

high minimum wage, unemployment is lower than the standard of living is higher. higher minimum wage, lower unemployment. where it has been tried. that is empirical evidence that raising the minimum wage is a good thing. >> like i said before thomas solo explains so well because he has personal experience, back in the 40s when they weren't raising the minimum wage to keep up with inflation he said that black youth unemployment when he was working was actually lower than caucasian youth unemployment and that is because more jobs are available for young people when you keep wages low because we are inexperienced and -- makes economic sense exactly. stuart: ten seconds. >> this is the argument from the left that our minimum-wage is much lower than the minimum wage paid in most developed countries throughout the world.

a chicken and egg scenario. what the youth unemployment is overseas, it is over 20%. it is in moral and we are going to see increasing here, 17.6%. stuart: it is immoral. well done, young lady. c leah bigelow, thank you very much. how is this? for valentine's day present? >> what did you get me? stuart: freed divorce. we have got the attorney who is making it happen. you won't believe this. is our way of doing valentine's day next.

stuart: the price of gas keeps going up. national average for a gallon of regular up another penny overnight free dollars and $0.62 up $0.30 a month. check the price of oil climbing above $97 a barrel as of right now. to the housing market the latest read on freddie mac 30 year fixed-rate mortgage rate, no change staying right there at 3.5%. still very low.

check the share price of yum brands, operator of taco bell releasing the cool ranch flavor of its doritos taco, big news, this comes one year after release the not so -- come cheese flavor. coming up, valentine's day. a lawyer who is giving out a free divorce to the couple with the saddest story. i don't believe we are doing this that this is the way "varney and company" does valentine's day. little different. combining your customized charts with leading-edge analysis tools from recognia so you can quickly spot key trends and possible entry and exit points. we like this idea so much that we've applied for a patent. i'm colin beck of fidelity investments. our integrated technical analysis is one more innovative reason serious investors are choosing fidelity. now get 200 free trades when you open an account.

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stuart: world's biggest airline american airlines u.s. airways getting together. however i believe usair stock is down. why is that? nicole: we thought it wouldn't move too much but it is down and we are moving with this merger moving forward, 25 year friendship, the ceo of usairways, the ceo of a am argos and the role of non-executive chairman of the board until 2014. that is the way it is going to be, these airlines have been suffering greatly, jet fuel prices and the tough economy and this is the wave of the future of consolidation. stuart: we put the prices of for a lot of tickets like we did with continental and united and all rest of it. may be a time to buy airline stocks. in nicole: bay traders love to get on that, they have that inverse relationship with oil, the last thing i want to say is when there's a television on the plane, and do television.

stuart: i like to watch fox business, i do. got to go. do listen to this one. most people give flowers or chocolates on valentine's day but how about a divorce? a michigan attorney named walter bentley held a contest this week and he will award two free divorces for valentine's day. he joins us now. you held a contest and asked people to come to you with sobs stories and you wanted the two worst, most heartrending sob stories and give those people a free divorce. twenty-second to tell me about the first saab story. ago. >> the most compelling, i would not say saab story but one of the winners, they were married, everything was going fine and that a child and the child experienced crib death and they had other children but the death of the child cause the marriage, caused them to split apart.

they never had the money to get divorced. stuart: move away from that one. the second saab story. go. >> they want to get divorced but don't have the finances to do it, they are still dealing with financial things and make ends meet every single day and they were not able to get a divorce and filing bankruptcy and just didn't have the money to get a divorce and that is typical of what i see on a regular basis, people who can't afford to get that divorce. stuart: why did you link valentine's day to a free divorce? it is pretty good publicity, fine marketing. >> yes. it came from one of my college classes, a student celebrating her divorce, having a big party and i thought you can't move on to new law until you close the

chapter on the old law and this is the way for me to help someone hopefully have a better valentine's day in 2014 by closing the gap on natural law. stuart: how many entries did you get? >> close to 600 entries. stuart: when you're kidding me. where did you advertise? how did you put this out that you had a contest for free divorce? >> send it to the local me and put it on social me on my facebook page and twitter and so on and people just pass it on. a lot of these, people's friends say my friend is in a bad divorce and really deserve this and really need this because i am not telling people to get divorced, they already know they want the divorce but just can't afford it. >> how much does a divorce usually cost? >> they can range anywhere, and i am one of the less-expensive, everyone agrees on everything,

$1,500 to $3,000. if there are many more issues there will be a battle, that can go $10,000, $30,000 depending on how long the divorce last. sometimes it takes up to you to get everything done and you have to bring in experts making it very expensive. stuart: i believe it can. walter bent lee, that was a fine piece of advertising and very successful piece of marketing. we thank you for joining us with a free divorce offer on valentine's day. fine stuff. good luck. charles: we hope you don't see him. stuart: i am not sure we did that but we did. and other green energy grant costing you money and this one wasn't even based in the united states. it is true and it is next. it's a new day.

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stuart: huge deal today, warren buffett buying heinz, $20 billion. charles has something to say. charles: this is why people should invest in the stock market, stock is up 1100 percents -- stuart: hines is the 1100%. charles: they use the product but the fully they should be an owner of the company. yesterday it closed at the all-time high of $5 from its previous high so a lot of people

missed the move. people used to hold themselves back from investing in the market, there is a big difference between playing the market and being part owner of great companies. stuart: well said. another our rage for you. it is another reason big government really doesn't work. michigan, an electric car battery company got $150 million of taxpayer money from the fed's. the company never made batteries. workers were playing board games, watching movies, volunteering at animal shelters during work hours. charles? i got to get your input on this. seems to me the green energy industry heavily supported by the fed's is a fiasco. charles: is the 1,000% fiasco. the guy from the sierra club blew me away with the fact he throughout. go to the web site, they admit -- you know who hired 400 people during construction and after that 20 full-time employees, start crunching numbers thinking we spent $400,000 per employee,

it wouldn't exist without government subsidies. it would not exist. i don't like when they try to argue this on economic ground. want to use another argument fine but don't make it as if it is economically feasible or something we should be doing based on economics. >> some level of accountability of your going to hand out this money, follow upon nancy heller is being spent. stuart: when you give away government money there is never accountability. people who get it -- stuart: michigan, south korean company, we are giving money by michigan to a south korean company. it was supposed to create 440 jobs, they had 215 and that is down to 200. they ordered a general inspection of the factory and found they didn't have enough work to do, never produced any batteries, don't have the lines going so they're playing board games, helping in animal shelters. instead of laying them off working in an animal shelter,

that cause $150 million plus $175 million in state tax breaks to how the cam michigan. outrageous. i believe that. highlight reel next.

today is gonna be an important day for us. you ready? we wanna be our brother's keeper. what's number two we wanna ? bring it up to 90 decatherms. how bout ya, joe? let's go ahead and bring it online. attention on site, attention on site. now starting unit nine.

some of the world's cleanest gas turbines are now powering some of america's biggest cities. siemens. answers. stuart: the highlight reel is here. roll it, please. warren buffett is buying heinz. along with 3g capital, that is. >> one of the things that he said, stuart, is that they have great tasting products. stuart: it is a name that the whole world knows. >> we will get above those highs. >> if we do not have confidence in the market, we are in a really bad situation. stuart: we had to heinz buyout by warren buffett and then we have the